The system has a robust multi-currency functionality that allows the management of various currencies for the different system features and components such as accounts, subscription plans, charges, taxes, payments, etc.
Currency Storage and Representation
The system operates in a single base currency. The base currency is selected on initial system configuration and cannot be changed once selected. Administrators have the option to chose currency and display formats based on international standards.
Charges and Transactions
The system stores usage charges, recurring charges, surcharges, taxes and transactions in account currency. Transactions and CDRs are stored in both account currency and base currency at the corresponding FX Rate at time of transaction or CDR generation.
Tariffs are stored in base currency only. For all CDR rating operations and admin portal view conversion tariffs will be calculated in real time based on current FX rate for the selected currency vs. the Base Currency.
Several objects are not stored in base currency:
• Account balance is stored in account currency
• Custom charges definitions are stored in subscription plan currency
• Surcharges definitions are stored in subscription plan currency
• Taxes definitions are stored in subscription plan currency
System reports are presented in base currency with the exception of Critical Balances report which is presented in account currency.
Account reports will be presented in account currency. Administrator can select to view the reports in base currency by using the Switch Currency button in the report toolbar.
The CRM portal can be configured to be in a currency different from the base currency. In this case only subscription plans from the selected CRM currency will be available for the portal during subscription process.
Currencies and FX Rates
A predefined list of currencies is provided with the system which can be updated by system owners if needed. However, the main rating operations are performed in a single system currency called Base Currency. The base currency cannot be changed once selected. All other object currencies are converted for reporting and accounting to the base currency at the configured FX rate at the time of transaction.
Upon installation the FX rates for all currencies are zero in relation to the selected base currency. During initial configuration administrators must update the FX rates if they want to use the functionality.
The system provides 2 methods for currency rate updates:
a) manual update by changing single currency FX rate or by uploading a set of FX rates and
b) automatic update by using an online sources such as Yahoo or Google the system will update the rates at midnight every day
FX rates for currencies are configured in the System Settings menu, item “FX Rates”. The system provides the following options:
• View FX Rates – allows administrators to review currencies with respective FX rates and manage individual currencies.
• Update FX Rate – allows update of FX rate for individual selected currency
• Upload FX Rates – allows bulk upload of currencies with respective FX Rates
• Download FX Rates – allows download of system currencies
• Sync FX Rate Online – allows to force sync a single rate from online source
• Global Sync Settings – allows administrators to configure for all rates settings such as online FX rates source and sync method (manual or automatic)
Each subscription plan has its own currency. Subscription plan currency cannot be changed if there is any object associated with it – e.g. account, charge, surcharge, etc. All custom charges, surcharges, taxes, and other objects associated with the subscription plan are stored in subscription plan currency. PIN Batches and Taxes can be assigned to subscription plan only if they have the same currency.
Assignment or change of subscription plan currency is done from the Currency selection dropdown in the Add/Edit subscription plan form.
Tariffs are stored and displayed in base currency.
When creating taxes administrators must select tax currency. Tax currency may not match tax locality country – the system does not perform any such validation. Taxes can be assigned to subscription plans only if tax currency matches subscription plan currency.
Batches have their own currency which is assigned to them on batch creation. Batch can be assigned to subscription plan only if batch currency matches the plan currency. Batch currency cannot be changed if the batch is assigned to subscription plan. The currency of the PINs and the batch are always the same.
Accounts are associated with a single currency which cannot be changed. Accounts inherit their currency from the subscription plans they are assigned to. Accounts cannot have currency unless associated with subscription plan and their account balance is stored only in account currency. Account currency can be seen in Account > Account Profile > Account Settings.
All account settings and associated objects are configured and stored in only account currency as inherited from subscription plan – e.g. critical balance, credit limit, minimum balance to make calls, and invoices. Exceptions to this rule are account charges and transactions which are stored in both account currency and in base currency with corresponding FX rate at time of record – e.g. CDRs, transactions, taxes, and surcharges.
Accounts call history is presented by default in account currency – account CDRs files for download are in account currency only.
Payments and Adjustments for accounts can be made in both Account Currency and Base Currency. If payment is made in Base Currency the transaction is converted to Account currency at the currently active FX rate in the system. The balance is updated with the converted amount in account currency.
Some Account reports such as Call History and Transactions can be viewed in base currency by pressing the Switch Currency button in the toolbar.
Agents see all information and receive commissions only in base currency.
Routing functionality is entirely in Base Currency.
All reports are presented in Base currency except the Critical Balances report which is in the respective account currency.
CRM administrators can see account details only in account currency.
CRM users can subscribe for services in currency offered by the CRM site as configured in the CRM global settings. CRM users see all transactions and reports in account currency. CRM users see tariff rates only in account currency converted in real time based on the current system FX rate for the currency.